TCS shares jump 2% on order win, add Rs 21,000 crore to m-cap

Shares of TCS climbed nearly 2 per cent in Thursday's trade after the IT firm said it has been selected by the Rail Delivery Group (RDG) to design, develop, implement, and operate the UK’s Rail Data Marketplace (RDM). The contract between

The order is for a term of six years including an extension term opportunity, the IT firm said.

Following the development, the stock rose 1.87 per cent to Rs 3,456 on BSE.  The stock commanded a market capitalistaion of Rs 12,62,263 crore at 9.25 am, up Rs 20,966.36 crore over its preceding day's m-cap of Rs 12,41,297 crore. The scrip has an average target price of Rs 3,717.80, as per data publicly available with Trendlyne, which suggests a 8 per cent potential upside. 

TCS will leverage 'TCS Dexam' a controlled data exchange environment for enterprises. It enables democratisation, monetisation, and commercialisation of data, while preserving the security, privacy, and consent of data and its stakeholders.

Additionally, TCS will use Google’s Apigee platform to develop and securely manage the APIs that partner applications will use to connect with the RDM.

Amit Kapur, Country Head, TCS UK and Ireland, said: ‘’We are delighted to lead on this strategic program with the Rail Delivery Group. Built on TCS Dexam, the Rail Data Marketplace can not only provide data relating to the rail industry but could also present adjacent data sources important to passengers and operators and help deliver an improved experience for users. In addition, the platform will have the ability to track environmental parameters, which will allow it to support the UK’s rail decarbonisation agenda.’’

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